It's
because "debt was so much higher." Now it's "staggeringly
much higher."

Whenever
the next market disruption comes, it's "going to be worse than
in the past," he stresses.

It's
"because we have unbelievable levels of debt, and unbelievable
levels of money printing all over the world."

"Be
worried and be prepared," he warns. He doesn't know when trouble
will arrive, he says. "(B)ut when it comes, be careful."

Robert
Shiller is worried. At the same time, he's "not sounding the
alarm yet." Stock price levels are high. So are other financial
assets. Things "could end badly," Shiller warns.

Economics
Professor Laurence Kotlikoff said:

"Eventually
somebody recognizes (what's happening), and starts dumping their
bonds, and interest rates go up, and inflation takes off, and were
off to the races."

Michael
Pento said Washington "brought us out of the Great Recession,
only to set us up for the Greater Depression, which lies on the other
side of interest rate normalization."

Russel
Napier believes we're "on the eve of a deflationary shockâ¤|"
It'll "likely reduce equity valuations from very high to very
low levels."

Market
strategist Robert Farrell is best remembered for his "10 Market
Rules to Remember:"

Number
one: markets (always) return to their mean average over time.

Number
two: excesses in one direction lead to opposite ones.

Number
nine: when conventional wisdom agrees, "something else is going
to happen."

Gerald
Celente publishes his annual top 10 trends. He calls 2014 "a
year of extremes." His number one trend is "March Economic
Madness."

Timing
is one of the toughest aspects of forecasting, he said. No one knows
precisely when things will happen. Often they're when few expect
them.

Celente
"missed the mark with (his) Crash of 2010 prediction," he
admitted. Why, he asked? Because of worldwide money printing madness.

It
was unprecedented. Who could have predicted it? It can't last.
Celente believes "around March, or by the end of" 2014 Q
II, "an economic shock wave will rattle" world equity
markets. It remains to be seen if he's right this time.

"The
American economy was experiencing a once-in-a-century acceleration of
innovation, which propelled forward productivity, output, corporate
profits and stock prices at a pace not seen in generations, if ever."

It
was reminiscent of noted economist Erving Fisher. Shortly before the
1929 crash, he fell from grace. He did so claiming economic
fundamentals were strong.

Stock
market prices were undervalued, he said. An unending era of
prosperity lay ahead. It took over a decade to arrive. It took WW II
to deliver it.

For
years into the new millennium, Greenspan let growing financial
trouble fester. In January 2006, he retired.

Ben
Bernanke replaced him. Business as usual continued. Lehman Brothers
collapse followed. So did hard times for millions. Things were never
better for Wall Street.